Logo of ACWA Power Co.
ACWA Power Co. received, on May 15, a notice from Shuaa Energy 3 regarding the granting of the commercial operation certificate for a project in Dubai.
In a statement to Tadawul, the company said the third phase of the Shuaa Energy 3 project added 300 megawatts (MW), reaching a total capacity of 900 MW upon completion.
The financial impact of the phase is expected to be reflected in Q3 2024 results.
ACWA Power holds a 24% stake in Shuaa Energy 3 project.
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